Foreign Banks Push U.S. Federal Reserve to Relax Capital Rules

Foreign banks in the U.S. are stepping up a fight for regulatory relief, complaining they have been unfairly hit by supercharged standards on capital developed under the Obama administration.

Industry groups say they have put the push for reduced capital requirements at the banks’ U.S. holding companies at the top of their agenda for the remainder of the year, after signals the Federal Reserve is open to relaxing the rules.